Boulder County continues to see a very strong under-contract rate and low inventory. A big glut of foreclosure inventory is unlikely to materialize in the Denver metro area when forbearance winds down.
Aggregate Boulder County Market
2/28 – 3/07, 2021
New listings went down to 86 units last week, definitely lower than the 102 units year-over-year in 2020. That said, a good chunk higher than the 71 units in 2018.
<- Click to see the stats!
The real difference is in demand, which was markedly higher than the past three years. This is likely as a result of people realizing that interest rates are likely to keep rising. Last week 106 units went under contract, significantly more than the past three years, see the chart.
At 795, total year-to-date under-contracts are lower than what we saw in 2020 at this time, but higher than both 2019 and 2018.
How Is The Local Market
We saw more buyer activity in most of the price bands last week,, with a big surge in activity in the $2-2.5mm and 2.5mm+ price bands.
<- Click to see the stats!
National Real Estate Trends
Is Buyer Demand Likely To Stay Strong? Are Forbearance Properties Likely to Flood The Market?
People are wondering if there will be a big surge in foreclosures in Q4 of 2020, as forbearance wraps up.
Mortgage delinquencies started 2020 at historical lows but were adversely affected by large job losses resulting from the pandemic, causing early-stage delinquencies to hit historical highs last spring.
Ongoing forbearance provisions have kept foreclosure rates low, and early-stage delinquencies decreased back to pre-pandemic levels by early fall, showing that fewer homeowners were falling behind on payments.
The highest delinquency rates are in states with the highest unemployment.
The Denver metro area came in second to lowest out of the 10 largest metro areas in the US for 30 days past due delinquencies.
Experts believe that it is unlikely that the northern CO market will be flooded with foreclosure inventory at the end of 2021 and into 2022.
Core Logic is also has found that 24% of the population is considering a move within the next 6 months, which is incredibly strong and higher than normal buyer demand.
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Colorado Mass COVID-19 Vaccines
Centura Health is now scheduling drive-up vaccine appointments in partnership with Colorado Governor Polis’ Vaccines for All plan.
You must have a scheduled appointment to attend and they will accept all who are eligible under Colorado’s phased guidelines.
The clinics are located at these locations and are generally open these days based on available supply and venue availability:
Dick’s Sporting Goods Park in Commerce City, Sunday – Wednesday from 9 a.m. to 5 p.m.
Broadmoor World Arena in Colorado Springs, Friday – Monday from 10 a.m. to 6 p.m.
Colorado State Fairgrounds in Pueblo, Friday – Monday from 9 a.m. to 5 p.m.
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other professional advice outside the realm of real estate brokerage.